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Load Bank Leader, ComRent, Receives Private Equity Boost
Global Environment Fund (GEF) Investment Supports Company's Growth Objectives
By: Marketwired .
Jan. 31, 2013 07:09 AM
OWINGS, MD -- (Marketwire) -- 01/31/13 -- ComRent International, the global leader in load bank rentals and services, has announced an investment from the Global Environment Fund (GEF), a global private equity firm. The investment will support ComRent's ongoing growth through international expansion and further penetration of key sectors with mission-critical power testing requirements.
As part of the investment, Raul Martinez has been promoted to president and CEO with responsibility for the strategic vision, daily operation and growth of ComRent. Founder Clayton Taylor will continue his active oversight of ComRent as Chairman of the Board of Directors.
"We are excited about our partnership with GEF, which will provide us with the financial resources and additional expertise to grow and create value, while preserving our commitment to innovation and outstanding customer service," Martinez said.
GEF Managing Director, Lisa Schule, stated, "We are impressed by ComRent's focused portfolio of products and services that serve the electrical testing industry and we are looking forward to partnering with the ComRent team to support the company's continued organic growth, international expansion and acquisitions."
ComRent's solutions are used in the commissioning and testing of mission-critical electrical and mechanical systems to help customers validate system design, installation, performance capacity and compliance, while avoiding costly system failures. ComRent's 15-year anniversary in 2012 was marked by significant honors from the media. Inc. Magazine recognized the company for the sixth straight year in its "Inc. 500/5000 list" -- pegging it as one of America's fastest-growing companies. Additionally, the team was announced as the "Gold Winner" in the Golden Bridge Awards Program for the company's wind farm power testing solution -- representing excellence in green, eco-friendly and clean technology innovation.
About ComRent International
Founded in 1997, ComRent International, LLC provides load banks for the testing and commissioning of primary and backup electrical generating and mechanical systems. Headquartered in Owings, MD, ComRent has 18 strategic locations in the United States, Canada, Brazil, and Saudi Arabia and can meet a wide variety of electrical and thermal load testing requirements anywhere in the world. ComRent built the first and only medium voltage load bank in the rental market for testing large, multi- generator plants and the first rack mount load bank with variable load, CFM and wireless remote control. Learn more at www.ComRent.com
About Global Environment Fund
Global Environment Fund, a Chevy Chase, MD based private equity firm founded in 1990, invests around the world in businesses that provide cost-effective solutions to pressing energy, resource and environmental challenges. GEF's investments draw upon decades of operating experience in three distinct markets -- US-based companies providing leading environmental and clean energy technologies and services; emerging market businesses in rapidly growing clean energy and environmental services markets; and timberlands in attractive locations in the southern hemisphere. The firm is headquartered outside Washington, D.C., and has local offices in Brazil, India, China, South Africa and other key markets. GEF currently manages approximately one billion dollars in private equity investments for institutional investors including university endowments, foundations, family offices and pension funds. For more information please visit: www.globalenvironmentfund.com
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